Why is the price of oil still so high?

Meaning, higher costs for the consumer?

Its not rlly all that high for us tbh

It hasn't happened because we can't get the price of oil to a sustainable price that the oil companies can afford to produce at home. That happens around $80/bbl

You **will** see an increase.

**Everyone** will.

It nearly happened while Obama was president, but he stood in the way of allowing the oil companies freedom to run.

@Weez

That's the international rate buddy. The domestic rate is much lower. If you would stop posting to read other's comments I already explained this.

Fuel will be higher during the winter season but thats also because most states require additives for winter fuel around now

International rate will still effect domestic product.. Meaning it will affect costs.

Woz put it best: in economics, a plus for one person is a minus for someone else. there's no fucking binary action

If America becomes a dominant oil exporter, we win. That's why SA flooded the market a few years back.

*If*

*Yawn*

$80/bbl

NO we can basically ignore the international rate as I already explained. Transport and refining costs *always* make it cheaper inside the US (and to a lesser degree N. America)

It's easily attainable.

Sustainable has yet to be seen.

We have the capacity to out produce saudi arabia if we really want too.

Yes, but you do NOT cover your full demand through your own production.

Meaning you import abroad.

Meaning it still has an effect.

*"Its totally worth it to keep stickong our dick in the middle east guys, super srs this time."*

We were beginning to export under Obama,

so fucking sick

of this trash

A geologic report I read places over 54 billion barrels under N. Dakota alone.

At 80 a barrel every wildcat in permian, eagleford, and bakken would be shoveling it out like gravy.

If SA cannot close our production due to the strait being closed, then we can sustain it for a while. I don't care if that war happens. We win...

https://www.eia.gov/tools/faqs/faq.php?id=727&t=6

Well, would you look at that.

You're importing oil.

Know what that means? Global prices effect you.

*Who could have guessed.*

Of course we are, it's too cheap not to

this is sheer zealotry. we leave the middle east, end of story.

Fucking Yanks and their shit education.

WE're an exporter genius. As of earlier this year.

We're not a dominant exporter.

At 80 a barrel we would be.

We only import 29% of our oil from opec countries